Euroisation in Albania: From Spontaneous to Consensual
AbstractIn this paper, we present a new estimation of the euroisation level of the Albanian economy taking into account both foreign deposits and foreign currency in circulation. We implement a recent novel methodology to calculate foreign currency in circulation. It is found that the overall level of euroisation including this often unaccounted measure is approximately 45 percent of total money. We also try to investigate some of the implications the re-estimated level of euroisation has on the actual monetary policy and the future path towards EMU.
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Bibliographic InfoPaper provided by The Vienna Institute for International Economic Studies, wiiw in its series The wiiw Balkan Observatory Working Papers with number 071.
Date of creation: Aug 2006
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Publication status: Published as The wiiw Balkan Observatory Working Paper, August 2006
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